Thursday, October 23, 2025 — Gold prices edged lower on Thursday as a stronger U.S. dollar weighed on the metal ahead of key U.S. inflation data.
Spot gold fell 0.2% to $4,084.29 per ounce, while U.S. gold futures rose 0.9% to $4,100.90. The U.S. dollar index gained 0.2%, making gold more expensive for investors holding other currencies.
Markets are now focused on Friday’s U.S. inflation report, with core inflation expected to remain steady at 3.1%. A higher-than-expected reading could prompt the Federal Reserve to raise interest rates by another 25 basis points.
Despite the modest dip, gold has surged 56% since the start of 2025, hitting a record high of $4,381.21 earlier this year. The rally has been driven by geopolitical tensions, global economic uncertainty, and expectations of future rate cuts.
Among other precious metals:
- Silver slipped 0.2%
- Platinum dropped 0.6%
- Palladium fell 1.1%
